Survey: More Investors Say Bitcoin Likely To Hit $10K Instead of $30K

Nearly a quarter of retail investors consider the cryptoasset class “garbage”

article-image

Blockworks exclusive art by axel rangel

share

key takeaways

  • The price of bitcoin was about $20,500 at 4 pm ET on Monday, up 6.2% from a week ago
  • Retail investors have a more pessimistic outlook than institutional investors, Bloomberg’s MLIV Pulse survey shows

While bitcoin has plummeted about 70% from its all-time high last November and about 30% in the last month, many investors believe the cryptoasset’s price will get much worse, according to Bloomberg’s MLIV Pulse survey.

About 60% of respondents indicated that bitcoin (BTC) is more likely to dip to $10,000 rather than rally back to $30,000. The survey was conducted from July 5 to July 8 and included 950 investor responses. 

The price of bitcoin was about $20,500 at 4 pm ET on Monday, down 1.6% from a day ago and up 6.2% in the past seven days. BTC’s market capitalization was down to $390 billion, dropping 36% from a year ago, according to Blockworks Research data.

Bitcoin’s market capitalization | Source: Blockworks Research

Crypto’s market capitalization dropped from its peak of $3 trillion last November to less than $1 trillion Monday.

Nearly a quarter of the surveyed retail investors consider the cryptoasset class “garbage,” according to the survey, compared to 18% of professional investors. The highest percentage of the latter category — 32% of professional investors — reported being “open-minded but skeptical.”

About 28% of the overall respondents expressed strong confidence that cryptocurrencies are the future of finance.

The latest bearish cycle for bitcoin is close to testing the 80% drops seen in past crypto winters, according to Edward Moya, senior market analyst at OANDA.

“The $14,000 level seems like it could provide significant support if bitcoin breaks later this week,” he wrote in a note on Monday. “This week’s inflation report could be the trigger for one last major plunge for cryptos.”

Federal Reserve officials are not ruling out another interest rate hike of 75 basis points to combat inflation, according to minutes released last week. 

“Despite all the pessimism and negative headlines for bitcoin, the fact that it is putting up a fight at the $20,000 level is a promising sign,” Moya added.

The survey also found that about 9% of respondents think of NFTs as an investment opportunity, with the majority seeing the digital assets as art projects or status symbols.  

NFT (non-fungible token) marketplace OpenSea traded $646.6 million in volume during June, down more than 65% from May.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

tg trading bot report graphic.png

Research

Telegram trading bots have found their primary niche in highly speculative token launches and retail-dominated memecoin markets, with many features specifically tailored to token sniping and copy-trading strategies.

article-image

The investor criticized Michael Saylor’s plan to render his personal bitcoin holdings inaccessible to anyone else forever

article-image

The exchange has structural defenses and protocols to limit manipulations

article-image

Upshift is being spun out of August, which raised $10 million earlier this month

article-image

DeFi can make markets “faster” and “more transparent,” said the CEO — but what does that mean for the dollar?

article-image

As the markets end a rocky Q1, investors wait for tariff announcements and Trump’s “Liberation Day”

article-image

Off The Grid’s Web3 lead shares details on the game’s economy and how the token will be integrated